Remember that fat cheque for about $16.7 million that Hastings Council is still owed by Aussie property developer Charter Hall for Nelson Park?

You know, the cheque that will eventually pay for the demolition of Nelson Park (already completed) and all but $5 million of the new Kelt athletic track and stadium, as well as all land purchased for the regional sports park and investigation of the entire RSP concept (i.e., Sam’s bill).

Well, now that Charter Hall’s stock value has dipped 72% since their purchase of Nelson Park, BayBuzz was just hoping Mayor Yule or CEO McLeod might give ratepayers some peace of mind.

We’re just trying to cross some unnecessary concerns off our list.

Please tell us you’ve already cashed the cheque! Or at least that it’s in the post.

Or, if you haven’t gotten around to billing them yet, how about just a prediction as to when you might ask for the money … and an explanation of what might be delaying your sending the invoice?


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1 Comment

  1. re: Nelson Park still not sold.

    As you know NP was supposed to be paid for 30.06 08.

    A 3 week extn was granted, which incidently costs ratepyers @$38000 per week on the outstanding balance.

    On Wed 16.07 08, a large sign appeared on the Karamu rd frontage of NP, proclaiming "Hastings Home HQ" will be constructed shortly with over 30000 sq. metres of retail space, & 1000 carparks.

    Compare this to the sick joke of 150 allowed for at the RSP, & Councillor Speers claims the rest can park out on Percival Rd, despite a question from the floor at the RSP hearing gaining the Mayors disclosure that 503 more carparks will be added to the proposal.

    That increases the budget in excess of that disclosed/debated on by $12000 per carpark for formation, sealing, marking, drainage, lighting & landscaping, equates to an instant $6,036,000 cost blowout!!.

    Anyway, back to NP, the sign which was inviting prospective tenants to book their space, or at least express an interest, was completely blacked out on Friday & reamains so.


    Has Charter Hall walked from the deal in face of gloomy economic data & lack of tenant commitment?

    Will HDC be left to sue a capital bereft shelf company?

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